Sorare, a French start-up, will work with La Liga, Spain's top football league, to launch NFTs. On Sorare's platform, users can manage five-player teams and trade digital player cards.
Non-fungible tokens provide an additional layer of security to blockchain networks by enabling ownership of rare items, such as paintings or trading cards.
With its new licensing deal with the La Liga, Sorare said Antoine Griezmann, Vinicius Junior, and Pedri, among other top players, will become part of its platform.
Nicolas Julia, CEO, and co-founder of Sorare disclosed it was an important milestone to welcome the first top-five league to the platform.
Sorare has agreed to guarantee exclusivity by paying a minimum guarantee and royalty to La Liga clubs.
Sports associations such as La Liga are entering the crypto world. NBA Top Shot, a collectibles platform developed by blockchain start-up Dapper Labs, licenses game highlights from the National Basketball Association.
Two new NFT collections have been released by Manchester City. Numerous clubs have introduced fans' tokens, with which club supporters can participate in decisions that affect the club, and receive perks.
The Paris Saint-Germain fan token developed with the cryptocurrency firm Socios.com was included in Lionel Messi's welcome package at the French club last month.
The NFT market has been booming this year. As for the crypto collectible named CryptoPunk, Visa recently acquired one for nearly $150,000 in ethereum, sold by digital artist Beeple.
Digital media can be reproduced and distributed on a mass scale thanks to the free availability of content on the internet, whereas NFTs allow for verifiable scarcity and ownership of digital content.